Stereo Inc. sells a stereo system for $\$200$ down and monthly payments of $\$70$ for the next 2 years. If the interest rate is $3$% per month, find:
a) The cost of the stereo.

Answer =

Hint: The answer is a dollar amount and should include a dollar sign and have exactly two decimal places.

b) The total amount of interest paid.

Answer =

Hint: The answer is a dollar amount and should include a dollar sign and have exactly two decimal places.